A twist in Hastings' pipeline

ACCC opposition to APA Group's hostile Hastings takeover raises the stakes for the suitor, and may turn Hastings from target to hunter.

For nearly four months the Hastings Diversified Utilities Fund has been resisting a $1.2 billion takeover bid from fellow pipeline owner APA Group. On Friday it may have got a little help from the Australian Competition and Consumer Commission.

On Friday the ACCC published its "statement of issues" in relation to the offer and made it clear that it has some significant issues with the bid.

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